META Group Poll Shows 57% of IT Vendors Disappointed by Lack of Sarbanes-Oxley Related Sales
- 05 December, 2003 16:45
<p>FOR IMMEDIATE RELEASE</p>
<p>META Group Poll Shows 57% of IT Vendors Disappointed by Lack of Sarbanes-Oxley Related Sales</p>
<p>Most Vendors Remain Optimistic About Long Term as Analysts Urge Patience</p>
<p>SYDNEY, Australia (December 5, 2003) „o A recent META Group, Inc. (Nasdaq: METG), poll has found that 57% of business service providers and IT vendors surveyed have been disappointed by ¡X or have failed to see any substantial sales movement resulting from ¡X companies¡¦ need to become Sarbanes-Oxley (SOX) compliant.
Although 97% of providers polled view ongoing SOX compliance as a future business driver, sales to date have been lower than anticipated. Currently, companies are directing SOX compliance investments toward internal resources, such as analysing regulations and documenting processes, or toward external auditors and risk management consultancies. META Group estimates that the internal analysis and documentation efforts account for an average of 75% of the total SOX compliance investment to date.
¡§Organisations are making significant investments to gain and evidence SOX compliance, but so far they have not been with the largest constituency of pro-Sarbanes-Oxley
businesses ¡X IT product vendors,¡¨ said Stan Lepeak, vice president with META Group¡¦s Technology Research Services. ¡§It¡¦s important that the IT product vendors who are chasing the SOX rainbow take the time to develop solutions that are truly tied to compliance stipulations and requirements, not just warmed over IT solutions in a loose SOX wrapper.¡¨
Although IT product investments will increase in 2004, META Group believes that, for most companies, SOX compliance is a business process issue and that it is not predominantly tied to investing in more IT applications and systems.</p>
<p>About META Group
META Group is a leading provider of information technology research, advisory services, and strategic consulting. Delivering objective and actionable guidance, META Group¡¦s experienced analysts and consultants are trusted advisors to IT and business executives around the world. Our unique collaborative models and dedicated customer service help clients be more efficient, effective, and timely in their use of IT to achieve their business goals. Visit metagroup.com for more details on our high-value approach.</p>
<p>Peter Carr, General Manager